Petrol

Crude oil inventories in the United States increased by 1.9 million barrels during the week ending April 17, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The increase brings commercial stockpiles to 465.7 million barrels according to government d

TD Securities notes UK headline CPI matched expectations at 3.3% year-on-year in March, reflecting early post-conflict price effects, especially from motor fuels.

OCBC strategists Sim Moh Siong and Christopher Wong note that renewed Oil-driven inflation risks are tightening global financial conditions, lifting the US Dollar (USD) as yields rise and risk appetite weakens.

Nomura economists argue that the latest energy price surge will be a larger drag on Euro area growth than a persistent inflation shock. They stress weaker labour markets in Northern Europe, limited fiscal space, more spare capacity and slowing wage growth.

OCBC strategists Sim Moh Siong and Christopher Wong highlight that Brent is nearing USD100 as flows through the Strait of Hormuz are unlikely to resume early, pushing markets into an Oil–stagflation channel.

ING’s James Smith notes that UK inflation rose to 3.3% in March on higher fuel costs and is likely to move towards 3.5–4% later in 2026, helped by July’s increase in household energy bills.

Australia's state of Queensland will pour A$25 million in biodiesel production project in a bid to reduce its reliance on imported fuel amid a severe supply crunch resulting from the war in the Middle East. The investment, equal to some $18 million, would aim to produce 20 million litres of biodiese

Brown Brothers Harriman’s (BBH) Elias Haddad notes that United Kingdom (UK) inflation remains persistently above target, limiting the Bank of England’s (BoE) ability to ignore the energy shock. However, he argues current BoE rate hike expectations are excessive given estimated economic slack.

West Texas Intermediate (WTI), future on NYMEX, claws back its early losses and flattens around $89.60 during the European trading session on Wednesday.

Global crude oil inventories are approaching a record low as the war in the Middle East continues, decimating tanker traffic via the Strait of Hormuz, Goldman Sachs commodity analysts have warned. Even if oil flows via the chokepoint begin to improve by the end of the current month, the decline will

The trading arms of some of China’s biggest state-owned oil giants have started selling crude for May loadings in a rare move from the majors that have cut refinery rates in response to soaring oil prices and constrained crude supply from the Middle East. Sinopec, the world’s biggest refiner by capa

Societe Generale strategists note that Brent has retreated from recent highs after President Trump extended the Iran ceasefire indefinitely, with Oil prices still seen on an uncertain path back toward normalisation.

EUR/CAD extends its losing streak for the sixth consecutive day, trading around 1.6040 during the European hours on Wednesday.

Iran continues to export its oil out of the Persian Gulf via the Strait of Hormuz using dark mode on tankers to move past the U.S. blockade outside the world’s most vital oil chokepoint. At least two Iran-flagged supertankers fully laden with an estimated about 4 million barrels of crude have exited

Crude prices edged lower on Wednesday following US President Donald Trump's unilaterally announced extension of the ceasefire on Tuesday.

MUFG's Senior Currency Analyst Lloyd Chan notes that stalled US–Iran talks and an extended United States (US) ceasefire have shifted the conflict into a prolonged standoff, with a continued blockade of Iranian ports.